Li Ka-Shing’s business CK Hutchison as Pro-Beijing outlet is in the fire as he criticises the $22.8 billion port contract.
Richard Lee Tizal Kai, the second son of Billionaire Lee Ka Sing in Hong Kong, appeared at the Beijing Economic Forum on March 23-24, portraying speculation that he was there to appease the communist regime after his father’s business, CK Hutchison.
Richard Lee attended the 2025 Annual Meeting of the China Development Forum, hosted by the National Council of Government Development, the Center for Development Research, “Unlocking Development Momentum for the Stable Growth of the Global Economy.”
The Chinese Communist Party (CCP) Prime Minister gave a speech at the forum, attended by more than 100 foreign representatives from international organizations, Fortune 500 multinational corporations and the global business community.
On March 23, according to the China Development Forum’s WECHAT public account, the main foreign representatives of the meeting included Chairman, President and CEO of Siemens AG Roland Bush. Apple Inc. Tim Cook, CEO of. Jay Y. Lee, Chairman of Samsung Electronics. Oliver Zipse, Chairman of the BMW Group. Ola Kerenius, chairman of the Mercedes-Benz Group. Qualcomm’s president and CEO Cristiano Amon, and more than 80 representatives of multinational companies.
In the “Business Person” section of the list, Richardley, founder and chairman of the Private Investment Group Pacific Century Group (PCG), appeared shortly after his father’s business, CK Hutchison.
Under the leadership of Li Ka-Shing, CK Hutchison recently announced the sale of its port operations in 43 countries, including most of the ports at both ends of the Panama Canal, for $22.8 billion.
The deal angered Beijing. Between March 13 and March 19, Hong Kong professional newspaper Ta Kung Pao published more than 10 articles criticizing Li Ka-Shing’s decision, labeling the 96-year-old bigwig as a traitor to “sell out the country and the entire Chinese,” and “knee without spanking” in front of the United States.
Hong Kong and the Macauers office, representatives of Hong Kong’s CCP, have reprinted three Ta Kung Pao articles on its website. When asked about the issue on March 18, Hong Kong CEO John Lee said he “opposes the use of coercion or pressure in international trade” and that the transaction must comply with Chinese laws and regulations.
In 2018, Li Ka-Shing resigned as chairman of both K Hutchison Holdings Ltd. and CK Asset Holdings Ltd., moving into the role of senior advisor. He handed over the empire to his eldest son, Victor Lee, 60, and also retained Canadian citizenship.
When Li Ka-Shing announced his retirement in 2018, he said Richard Lee would not be joining CK Hutchison in the future.
Given the recent debate over CK Hutchison’s port sales plans, Richard Lee’s famous appearance in Beijing has attracted public attention.
Frank Tian Xie, a business professor at the University of South Carolina Aiken University and Chinese observer, believes that Li Ka-shing probably didn’t communicate with the CCP before the transaction, a business decision made purely for self-preservation.
“The CCP’s approach reflects the main idea that “everything under heaven belongs to the emperor,” and believes that Li Ka-shing’s port is something they can exploit, even if they consider it part of their own territory,” he told the Epoch Times.
“This is why the CCP is so angry that it is angering and supports the communist media with its relentless attacks.”
The cargo ship will wait at Balboa Port before crossing the Panama Canal in Panama City on February 4, 2025. Martin Bernetti/AFP via Getty Images
Xie said he believes Richard Lee’s trip to Beijing is an attempt to appease the CCP, but believes the issue will “almost no reversal.”
“The CCP evaluates most of the ports next to the Panama Canal, but in reality they miscalculate. First of all, by doing this, they exposed the hypocrisy of the “one country, two systems” policy. Second, we will reveal the CCP’s ambitious global strategy.”
“One country, two systems” is a framework promised by the CCP in Hong Kong when a previously British-controlled city was moved to China. This allows the city to maintain its capitalist system and autonomy under Chinese sovereignty for 50 years after its extradition in 1997. However, concerns have been growing in recent years about increased control of the CCP and the erosion of Hong Kong’s promised autonomy.
Xie believes that no matter what CCP does, it will not be able to stop selling Panama Port. Even if Li Ka-Shing is willing to stop selling, CCP will not yet meet its target.
“President Trump and his administration seem to have now made up their minds to reclaim the Panama Canal,” Xie said.
“The decision of Li Ka-Shing means that if he sells, he can still get the money back, as the plan is to get it back, whether it’s being sold to an American company or not.
“So, in the case of CCP, it’s like drawing water in a bamboo basket.
